https://www.taxtmi.com/notifications?id=3761 Resident individuals may borrow from close relatives abroad subject to conditions: minimum one-year maturity, interest-free, and receipt by inward remittance in free foreign exchange through normal banking channels or by debit to the non-resident lender's NRE/FCNR account; 'close relative' adopts the definition in Section 6 of the Companies Act, 1956. The amendment also omits the Schedule clause titled 'Scheme for raising loans from NRIs on repatriation basis.' en-us Fri, 01 Nov 2002 00:00:00 +0530 Wed, 15 Jul 2009 15:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=3761 Resident individuals may borrow from close relatives abroad subject to conditions: minimum one-year maturity, interest-free, and receipt by inward remittance in free foreign exchange through normal banking channels or by debit to the non-resident lender's NRE/FCNR account; 'close relative' adopts the definition in Section 6 of the Companies Act, 1956. The amendment also omits the Schedule clause titled 'Scheme for raising loans from NRIs on repatriation basis.' Notifications FEMA Fri, 01 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/notifications?id=3761